Nuscale Power price target raised to $21 from $16 at Craig-Hallum

Craig-Hallum analyst Eric Stine raised the firm’s price target on Nuscale Power to $21 from $16 and keeps a Buy rating on the shares. A nuclear power renaissance is underway with nuclear increasingly viewed as a solution which solves both the increased need for baseload power and the need to decarbonize, the firm says. Craig-Hallum thinks this is truly just the beginning of a multidecade megatrend. While not involved specifically in either deal, the firm sees NuScale as ideally positioned for an acceleration of nuclear/SMR adoption with a 5-plus year regulatory head start and a meaningful pipeline and customer list including in AI/data center applications.